Consumer Protection - As introduced, reduces, from $100 billion to $50 billion, the amount of assets held by a state or national bank, savings and loan association, savings bank, credit union, industrial loan and thrift, or mortgage lender that are necessary to fall within the definition of a financial institution for purposes of the application of certain consumer protections. - Amends TCA Title 4; Title 9; Title 45; Title 47 and Title 56.

HB 316 lowers the asset threshold for financial institutions to qualify for certain consumer protections in Tennessee, reducing the requirement from $100 billion to $50 billion in assets. This change directly affects banks, credit unions, savings associations, and mortgage lenders with assets below $100 billion but at or above $50 billion, expanding the scope of institutions subject to these rules. The bill amends specific sections of Tennessee law (Titles 4, 9, 45, 47, and 56) to implement this adjustment. The policy change takes effect July 1, 2025, making consumer protection rules apply to more financial institutions.